Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1887-12-07
TARIFF REFORM.
-. rext Of tho Presidents Message 10
Congress.
r.lmportancc Of the Subject Demands
Careful Attention.
n. Surplus Will Amount to $14o, ,o00,'
00O Next june:
rsa Excess Of Revenue Should be Taken
or Necessariss.
,Aay,ng Internal Revenue Taxes on
Luxuries to Remain.
cms Should be Taken Not to Cut Too
Swcepingly, q.
ant to Guard the Interests Of the
WorkiNEmen.
n. Surplus Will Amount to $40, ,o00,.
00O Next june:
rho Excess Of Revenue Should be Taken
or Necessaries.
,lsyiug Internal Revenue Taxes on
Luxuries to Remain.
c,rs Should be Taken Not to Cut Too
Swcepingly,
eut to Guard the Interests OF the
WorkiDgmen.

your leEis atlve dutle6 WIN c0noiIlon OF
.hs national finances, which imperatively
;smapds immediate and careful considers.
.t,on. The amount Of money annually re.
.Ived through the operation OF he present
laws. from the industries and necessities OF
tbs people, lsrgely.exeeeds the sum neees.
.ary 10 meet the expenses OF the Govern.
usut, When We consider that the theory
d our Institutions guarantees to every citi.
.u the full enjoyment OF the fruits OF his
Industry und enterprise with only such de-
duetion as may be his share towards the
careful and economical maintenance OF the
Government which protects him, it Is plain
that the exaction OF more than this ia inde-
kusbe and culpable betrayal OF fairness
and Justice. This wrong inflicted upon
those who bear the burden OF national
taxation, like other wrongs, will multiply q
brood OF evil consequences. The public
treasury, which should only exist as con.
duit conveying the peoples tribute to it's
keitimats objects OF expenditure. becomes
6 boarding place for money needleesly
withdrawn from trade and the peoples
COG, thus cripp.ing our national energies,
usurpins our eountry's Developments, pre-
venting investment in productive enter.
uriees, threatening financial disturbance
and inviting schemes OF public plunder.
The
CONDITION OF QUE TREASURY
h not altogether new, and it has more than
once OF late been submitted to the peoples
representatives in the Congress-, who alone
an supply a remedy, and yet the situation
still continues, with aggravated incidents.
more than ever presaging financial convui'
sion and widespread disaster. 1t will not
DO to neglect this situation because its
dangers are not now palpably imminent
and apparent. They exist mono the less
certainly, and the unforeseen and unex.
pectsd occasion whom suddenly they will
Be precipitated upon Us. On the SOth day
Of June, 1885, the excess of revenue over
public e1pcndii ures, after complying with
tbs annual requirement. Of the sinking fund
act. was S17,S68, 1884. During the
year ended June 80, 1856, such excess
sroounted to $40, ,4O6, ,645.2O, and during
the wear ended June 80, 1887, it reached
the sum Of S55.567 ,S49.54. This annual
contribution to the sinking fund during
the three rears above specified amountef
10 the aggregate to $13S, ,O5S. .32O.94, and
deduction from the surplus were made
by calm. iii far tnat purpose the out
standing ih,ee per cent. bonds OF the Gov
ernn1ent. During the six months prior to
June 30 1887, the surplus revenue ~ q
gro"n .r 'arge by repeated accumn'a.
ticns. e;;.: j! was feared the withdrawal OF
this great sum OF money neaded by the
4, bo hnu
country, that tie sum OF SIS, ,S6l, lOo OF
such surplus Was
APPLIED TO TIE PAYMENT
Of the principal and interest OF the three
psr csnt bonds still outstanding and which
we're then payable at the option OF the
Government. The precarious condition OF
financial affairs among the people st,ii
needing relief, Immediately alter the BUN
day OF June, 1887, the remainder OF the
three per cent bonds then OUTSTANDING
amounting with principal and interest 70
The sum O; s1s.S77, 500, were called ia and
applied to the sinking fund contribution
ior the current fiscal year. S0twithstand'
ipc these operations OF the Treasury ue'
psrtment representations Of distress IN
business circles not only continued, out
increased and absolute peril seemed ~
hand. In these circumstances the eontrl'
button to the sinking fund for the current
fiscal wear was at once completed by the
sxpenditure of S27, ,6S4, ,263 So in the pur'
chase OF Government bonds not yet Que
bearing four and four and half per cent
interest, the premium paid thereon aver.
aging a bout twenty.four per cen1 70. 'Is Is
ior,ner and eight per cent Tor the 'attel. ~
addition to this the interest accouro ,' us
eruing during the current year upon Wv
outstanding bonded Indebtedness Oh :u; !;
Government was to some e1tene an.;s. :.un;a'
pated and the banks selected as deposltor'e'
Of public money were permitted to some
what increase their deposits. Whiie tne
ExpEp,EN1s THUS EMPLOYED
to release to the people the money lying II
tho Treasury served to avert immediao
danger, our surpiue revenues have con
tinued to accumulate. the excess ior IN
present year amounting on the nrsb asy
December to sos, ,25S, ,Sl.lo, anu 20"
mated to reach the sum OF st:: slto:UyJH,tU; J.to
On the 3Oth OF June next. at wnicn ua.s
is expected that this sum. added 10 Prp
aecunulations, will swell the surplus IN %
Treasury 10 $40 100000. There seem ?
to be n0 assurapee that, with such VIII
draw al from use OF the people. c'rcuiaI'n
medium, our business community u1 ~
IN ths near iuture be subjected to the an
distress which was quite lately proouce
irom the same cause, and while tne 'un
tions ~ onr Treasury should be lew an !,
simDle and while it's best condition wou'
be reached, believe, by It's ente e.s u y.
nection with private business interss.e, y.
when, through perveTsion OF l's ru "ts
it Idly boards money useieseiy !
from the channels OF trade, tnere eeemD
be reason for the claims that leg,ta
means should be devised by the Cover
ment TO restore in the emergency, witno'
waste or extravapance, such money W
place among the people. II sucn an eme,
eney arises there now exists no c:ea1 a.
undoubted executive power OF re'le'' 11e'
t0fore the
REDEMPTION OF THE PER GENIE
only, which we're payable at the op''on .
the Government, he's afforded q mean"
the disbursement cf the excess Oh
reyenr... hn. t,ese bonis nave all been
''rcii and there are no bonds ou' s.an anu
'he Lay :neut q which We have tue ,'su;:
insisr upon. The contribution 10 .:o
nsi.nd which furnishes tn. oecaslH" S. :,
Expenditures in the purchase pi Donus, "
BIZ already made for the current year.
there K no outlet in that dlJecton' an :.
Present state OF legislation the only
tencc Of any existing executive power a,r,,, w
store at THIS time any part OF our saap a;tp
revenu's to the people ny ite expanuc.c CO.
sHnsi,t- in the supposition that 1po ~.
'ery o! the Treasury may enter tne n",
and purchase the bonds of the Governsns
not yet due OF rate Of premium :"
agreed uron. Tho only provision ..
from vl,icl, such power could be derives aa
ionnd ia TN appropriation bill passed sc.
nr'abrr oi years ago, and it is suolsc. :.
the sunposition that it was intended a.
temporary relief and limited III Its apl
cation Instead o: conferring contlnu, ~,
i''stret:oE and authority. 10 conais!
anaE: 10 sx:st which you'd !sauy
san' as Tevss 20 u a!r s'H oAe!M va
/ ..aslAUA ~ L.. .;nsAssIsH 20 4ikAE:.g1 iEa